The people of Louisiana and those along the Gulf Cost should know the current price of Oil and Gas is not due to inflation. The Oil industry and its supporters would like you to believe that and are doing their best to try and sell the idea while real inflation is taking place with other goods and services. It's the old con game the industry plays.
Flash back to the Gulf War when President Bush 41 sent American troops to Kuwait to oust Saddam Hussein' troops from Kuwait's oil fields. And when President Bush 43 ordered the invasion of Iraq over WMD that did not exist. Both operations launched the speculation of oil disruptions, shortages and other claims that drove the price of oil and gas to record levels at the time during the Bush 43 administration. No one called the rising prices and record prices "inflation." It was manipulation by those who control the price and an excuse for much higher prices. Today it is speculation about the Russian war in Ukraine and the alleged disruption and shortages that have drove up the prices to record levels again. There are no shortages with a world economy we are told slowing down.
Those who follow the facts know that the Oil industry, Russia and OPEC lowers or and raises their production depending on the market and manipulates the production according to their needs. And when prices go up, it is never called "inflation" and when prices go down it is never called "deflation." So now the industry and the financial markets who hate the President's energy policy are riding real "inflation" as an excuse to justify their record price increases.
The U.S. is the world's leading producer of oil, can produce enough for America's needs but still exports at a time of crisis, has production that is shut in and thousands of acres of land they have yet to drill on and they have failed the country at a time in need with excuses and misinformation. The idea that they need the federal government to let them drill and produce more is a fairy tale. They already have that capacity to do so without government's approval.
So no, my fellow Americans, and especially those in Louisiana who are paying those high gas prices at the pump, it is not because of "inflation." We have been there before, done that and it was never called "inflation" for good and obvious reasons. And the Oil industry are the ones who have destroyed Louisiana's environment and have never been held accountable.
Prices at the pump are starting to go down as predicted by this writer and it is not related to "inflation" but those inflation hawks will use negative information as long as they feel it suits their purpose. The manipulation that takes place with the Oil industry and the resulting damage to consumer pricing is good reason and proof why fossil fuels should be a thing of the past. The Oil industry has been in control long enough. It is past time to trust the future with a cleaner and more stable energy source and take control away from the Oil industry.
This commentary written by Joe Lorio
Food for thought: I wonder how many people remember there was a time when they pulled up to a gas station and an attendant filled up their car with gas, cleaned the wind shield, checked the oil and water, checked the tires and all was included in the price of gas. Now you are the attendant and everything else. You even have to pay for air if the machine is working. Less service but higher prices at the pump.
